AGP Executive Report
Last update: 8 hours agoOil & Gas Governance: Guyana is facing a possible EITI suspension after a full Validation review flagged weak outcomes, patchy public outreach, and poor follow-through on reforms, with the country’s last score sitting at 52/100. Exxon Insurance Dispute: As Guyana adds more FPSOs, Exxon-linked limited oil-spill insurance of US$600M remains in place after court reversals, keeping pressure on whether adequate protection exists in a major spill. Offshore Environment Controls: Exxon plans to limit oil in discharged produced water for the Haimara development, targeting strict daily and monthly oil-in-water limits to ease marine-life concerns. Power Costs & Project Delays: The Wales gas-to-energy project’s two-year delay is now projected to cost about US$884M more, while GPL continues relying heavily on expensive HFO. Regional Energy Politics: Guyana and T&T reserved positions on CARICOM’s Cuba sanctions statement, highlighting growing regional splits tied to U.S. policy and security alignments. Mining Safety: A Rupununi miner died after a pit collapse at Chi Chi Backdam, with an investigation launched amid ongoing workplace fatality concerns. Real Estate Investment: A Chinese-backed firm is seeking EPA approval for a luxury gated community at Providence, East Bank Demerara. Infrastructure & Industry: Guyana is also pushing carbon capture investment as oil producers are urged to cut emissions while maintaining output.
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